Translated from Português (Brazil) • View original The OKR methodology has become indispensable for companies that are part of the competitive scenario that the market presents today. This is because it is extremely necessary to have a well-defined business strategy and achieve all its objectives. All the goals set need to match the reality and current needs of the company, aiming at its growth and improvement. All this can be achieved from the use of the OKR methodology, which has already conquered several large companies in the market, such as: Google, Amazon and Airbnb.
What is the OKR methodology?
OKR, or in translation, Objectives and Key Results, is a management system used by companies today. In a summarized and simplified way, it is possible to say that this is an ideal formula to define the goals of a business in the clearest possible way for everyone involved in that process. Such objectives can be achieved individually or collectively. The tool was invented by Andrew Grove, however, John Doerr is the great evangelist of the methodology.
How does the OKR methodology work?
For the OKR methodology to be successful in your business, it will be necessary to establish clear and ambitious short-term goals and objectives, as they will be measured periodically. After a while after the method's emergence, a formula was created to help Google set goals and it is: I will (Objectives) measured by (Key Results) In more detail, a good goal should indicate what the company will accomplish and the way it will measure its achievement. With this, companies started to mirror this formula, finding a new way to achieve their goals. Learn about the meaning of these components:
Objectives
They are memorable qualitative descriptions of what you want to achieve in your business. Objectives should be short, engaging, and inspiring, and need to motivate and challenge the team in charge.
Key Results
Key Results, on the other hand, are a set of 2 to 5 main results. All of them must be quantitative and measurable.
Now that you know what the OKR methodology is and how it works, it's time to know how to implement it in your business. Check it out:
1- Short cycles
It is very important to set short deadlines to analyze and review OKRs periodically. This will allow for faster adjustments and your team will have time to put everything discussed into practice.
2- Review goals
The review of goals must be constant to ensure the proper functioning of the work of your employees and the tactics applied in the business. You can develop a weekly check-in scheme to keep all members of the company involved and allow for new adaptations.
3- Measure results regularly
To do this, you can use data to improve processes and offer good feedback to the teams involved. With this, you will be able to explain to your employees what data will be collected and its importance to measure results. This practice will be able to improve collective and individual performance to make goals the motivation of people during the routine.
4- Stay focused
Through the OKR methodology, the organization maintains the focus of employees and goals become even more plausible, with the help of periodic check-ins.
5- Create challenging goals
Set clear, objective, and ambitious goals so that your teams can achieve 100% of them. This is one of the OKR tactics, as you will motivate people through the objectives that have been set in the company.
6- Transparency of information
For your OKR strategies to be successful, you will need to keep the results in plain sight of everyone involved. Transparency is the key to sharing the company's objectives and goals with employees, ensuring that your teams feel more inspired to achieve results. If you are looking for a customized OKR methodology software, capable of managing all your processes, count on Colorkrew. Contact our team and get a quote today!